Random House Offers Early Retirement

According to PW, Random House informed its employees in a memo this morning of a voluntary early retirement package with enhanced benefits for employees over the age of 50 who have worked at the company for at least five years. The offer is time-limited, available for 45 days only. The company described the option as “an attractive opportunity for our colleagues who may be interested in making a professional change.” Stuart Applebaum, speaking for Random House, says that there is no “hard target” for how many employees Random House hopes will accept the offer, and that the offer does not indicate that the company intends to downsize. These kinds of offers, however, often precede company reorganizations.